Far Resources Documents Additional Spodumene-Bearing Pegmatite Dykes at Zoro Lithium Property, Snow Lake, Manitoba
July 4, 2017 – Vancouver, BC: Far Resources Ltd (CSE:FAT) (FSE:F0R) (www.farresources.com) (“Far Resources” or the “Company”) is pleased to announce recent developments from a visit to its Zoro Lithium property including a helicopter-supported examination of historic spodumene-bearing dykes on recently optioned ground and examination of Dyke #1 by Drs. Robert Linnen of the University of Western Ontario and Tania Martins of the Manitoba Geological Survey.
Far Resources’ management and technical consultants examined Dyke #1 and visually assessed the potential for mineralogical and geochemical haloes developed adjacent to the dykes within the andesite host rocks as an aid to exploration on the larger portion of the property. Subsequently, drill core from the Company’s previous 2 drill programs was sampled for this purpose with analysis to be undertaken by Activation Laboratories an ISO-certified laboratory. Results will be reported in an upcoming news release.
Keith Anderson, president and CEO of Far Resources commented, “We have assembled an exemplary team of professionals to assist us to explore and advance the Zoro Lithium Property. We are certain that the expertise of Dr. Linnen and Dr. Martins will enhance our understanding of the property and together with the excellent work being done by Dr. Fedikow and Orix Geoscience to establish drill programs and to create a 3D model of the property, we are positioning Far Resources to fully realize Zoro’s potential.”
Outcrop examination at and around spodumene-bearing dykes 5 and 7 by the team indicates the presence of additional pegmatite dykes. Previously, chip sampling and analysis of dykes 5 and 7 by the Company has documented Li2O contents ranging from 1.46-6.35% in dyke 5 and 1.35-2.91% in dyke 7 (cf. May 2, 2017 news release). The new dykes were exposed in multiple trenches and pits and in outcrop between dykes 5 and 7. These new zones of spodumene-bearing pegmatite were previously unreported in the Manitoba government assessment files. Accordingly, potential exists for new spodumene-bearing dykes adjacent to dykes 2, 3, 4 and 6 on the property and the area will become the focus of upcoming field work in 2017.
Progress is being made by Orix Geosciences in the upgrading of the Zoro dyke 1 3-D model which will be used to guide an upcoming drill program designed to advance the geological understanding of the Zoro Lithium Property and lead to the development of a Technical Report in accordance with the requirements of NI 43-101 Standards of Disclosure for Mineral Projects.
The Company is also being proactive in assessing the potential for the development of an access road suitable for exploration access to the Zoro Lithium property and for the delivery of spodumene ore from the deposit(s) to an access point where it can be shipped to a processing facility. These enquiries and the process for development of the road are being guided by Manitoba Hydro and the Manitoba Department of Sustainable Development.
Far Resources President and CEO Keith Anderson states: “The discovery of additional spodumene-bearing dykes adjacent to historic high-grade lithium pegmatites on the property is exciting and opens up new exploration possibilities for us. We are also investigating the building of an access road to the property along pre-existing infrastructure which will facilitate exploration and potential delivery of lithium ore to a processing facility. Academic guidance from Drs. Bob Linnen and Tania Martins in developing exploration tools applicable to exploration on the property is ongoing as is the development of our 3D model at Dyke1. Our multi-faceted approach to exploration on the property will guide us as we move towards a 43-101 Technical report”.
The technical content of this news release has been reviewed and approved by Mark Fedikow P.Geo., a qualified person as defined under NI 43-101.
About the Company
Far Resources Ltd. is an exploration company, publicly traded on the Canadian Securities Exchange under the symbol FAT, focused on the identification and development of high potential mineral opportunities in stable jurisdictions. Far Resources may acquire or option properties of merit to meet its ongoing goal to locate, advance and unlock the potential of these mineral opportunities. Far Resources currently has two mineral projects in place. The Zoro Lithium project covers a number of known lithium pegmatite occurrences and is located near Snow Lake, MB. Manitoba has been ranked as the world’s second best jurisdiction for mining investment by the Fraser Institute. The second project is the Winston project in New Mexico, USA, another historic mining property with potential for silver and gold; New Mexico is also listed by the Fraser Institute, ranking in the top 25 mining jurisdictions in the world. Please visit our updated website at www.farresources.com for full details on our current projects. Far Resources has optioned its wholly owned Tchentlo Lake Property in British Columbia, Canada to Alchemist Mining Inc.
ON BEHALF OF THE BOARD OF DIRECTORS OF
FAR RESOURCES LTD.
Keith C. Anderson, President
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. All of the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.